Planet Inc.

New satellite information shows that ice sheets in Greenland and western Antarctica continue to shrink faster than scientists thought and in some places are already in runaway melt mode. In some parts of Antarctica, ice sheets have been losing 30 feet a year in thickness since 2003, according to a paper published in the journal Nature

The melting along the crucial edges of the two major ice sheets is accelerating and is in a self-feeding loop. The more the ice melts, the more water surrounds and eats away at the remaining ice.

We need to remember rising temperatures are just the tip of the iceberg. Changes in precipitation (causing, for example, 75 to 250 million people in Africa to be exposed to increased water stress due to climate change by 2020, with rain-fed agriculture yields falling by as much as 50%), disappearance of glaciers throughout the world, droughts in mid to low latitudes, increased sea level, loss of islands and 30% of global coastal wetlands, increased flooding (in all parts of the world, but greatest in Asia), and significant spread of infectious diseases already stare us in our face.

Cutting greenhouse gases cannot be avoided but neither will it be cheap. So, can nations afford it? Robert Stavins, a professor of business and government at Harvard University and director of Harvard’s environmental economics program, says that what is needed are smart policies.

As leaders of nations continue to point fingers and evade commitment, the time is crucial for new ways out of the impasse. For example, a cap and trade between companies would make noble intentions a business prospective. Companies around the world would be issued rights by their governments to produce carbon, which they could buy and sell on an open market. Turning adversity into an advantage? You bet!

The scope of action beyond Kyoto Protocol could be expanded to include key developing countries, but with targets linked via an appropriate formula with economic growth. Or the developed world could be asked to pay up for their historical carbon accumulation. That is justice after all. The funds could help poor nations adapt quicker.

Smart thinking alone can help in today's climate. Do pitch in with your ideas.